Economic Downfall in Indian Film Idustry and After Effects of Digital Piracy

Abstract

The majority of films, including Bollywood and local productions, are made in India. One of the sectors of the Indian economy that is expanding the quickest is the film business, yet piracy is a problem there as well. The prevalence of Indian movie the content of the movie was pirated and it will be demonstrates online on high demand for those materials. its quite well known that pirated movies are most preferrable one by the normal people , in which they don’t want to spend money foe movie tickets . due to piracy threat the Indian movie media losing roughly US$2.8 billion to piracy, watching pirated films results in lost jobs who were engaged in movie sector as well as a reduction of all kinds of income that is collections from a movie 1 . There is no specific data on India's population in connection to movie piracy, however it can be assumed that the country's huge population adds to the strong demand for pirated movies., and the Bollywood the name given to the Indian film business, has faced several economic difficulties recently, particularly those brought on by the impact of digital piracy. as we all know that one of the largest film industry is Bollywood , renowned for creating a sizable number of films every year in many different languages. However, a significant danger to its economic stability has emerged from the spread of digital piracy. During the year 2021, India ranked third for making illegal video streaming, and due to the covid 19 pandemic, piracy rose up to 62%. it is very commonly known that Piracy is a major issue in the movie industry , making all newly released movies available on sites within a short span of time. The Indian movie business is at high risk due to piracy, which is not a new thing to the Indian film industry. Surprisingly, during the early days of film making, there were piracy issues. Due to technological development and the increase in the use digital things. chances of illegality in duplication of music, movies, and software have increased. Largest creator of movie in the world is the country India. India is the largest producer of films in the world, and most of the Indian people consider movies as a part of their day-to-day life. its already known that Indian film industry is multi-lingual terms of ticket sales and having third position in revenue collection . Over time, the term piracy has evolved, and nowadays, as we are in a digital world so that piracy can be done very easily . digital piracy is the term used to describe the unauthorized use of digital channels like the internet sites for the reproduction and distribution of copyrighted content, especially films. Since pirated versions of films are frequently made accessible online even before those films arrive in theatres, this has become a significant issue for the Indian film business. Digital piracy also has an impact on how much money certain film business authorities make. The financial stability of filmmakers is dependent on the success of their projects. Piracy may cause financial hardship, smaller budgets for future initiatives, and fewer job possibilities within the business when reduces income sources. Particularly small and independent filmmakers have to compete with pirated copies of their films and confront several difficulties . The film business suffers considerable financial losses as a result of the ease with which these pirated copies may be accessed, and pirated contents are more cheap, which people will prefer mostly .2 . Additionally, the effects of digital piracy go beyond only short-term losses in money. It inhibits the innovation and creativity necessary for the film business to thrive and prosper. Filmmakers may choose to use safer, more formulaic methods of creating movies that are less likely to be illegally duplicated and disseminated when they perceive a larger danger of piracy. This restricts the variety of content that is offered to audiences and smothers artistic expression. The term piracy originally referred as attacks on ships and coastal areas by shipborne looters who stole goods. During the 20th century, the term piracy in the Indian film industry means selling, distributing, imitating copyrighted movies without the permission/consent of the original creator. Among regional and Bollywood films, among all the countries India is the biggest seller of films , however, the problem of piracy is very crucial in this sector. Pirated movies are inexpensive, which appeals to viewers3 . Comparing the expenses of production, acquisition, and regulatory norms, pirated movies are very cheap. Due to the technological changes in this new era, i.e., in the digitalized world, it makes the piracy sector simpler and easier. Those illegal productions lead to many financial losses to the Indian film industry, USIBC E&Y report and MPA sponsored study give an overall report of losses around RS 720 billion that took place during the years 2007, 2008, and 2009. This created more pressure on producers and broadcasters. Around 50% contribution of India’s GDP collection is from the entertainment industry. Due to piracy in the Indian film industry, the contribution towards GDP becomes very weak, and also health organizations give reports during covid 19 in the year 2020.